Iranian Minister of Petroleum Bijan Zangeneh said Iran and South Korea can cooperate in various energy sectors including petrochemical industry, liquefied natural gas and investment of Korean companies in Iranian projects.
Iran and Korea are to sign a cooperation MoU in which avenues of the two countries’ joint work has been considered.
“Iran and South Korea can enjoy cooperation from oil recovery in Iran to investment of Korean companies in LNG and petrochemical industries,” said the official.
Iran and South Korea are to sign 4 memoranda of understanding on energy cooperation during the visit.
Besides the document, three other MoUs will be signed by head of National Iranian Oil Company (NIOC), National Iranian Gas Company (NIGC) and National Iran Gas Exports Company (NIGEC) with their Korean counterparts.
Park Geun-hye’s visit to Iran will be marked as the highest ranking visit to Tehran by a Korean delegation.